DX
Dynex Capital, Inc. Real Estate - REIT - Mortgage Investor Relations →
Dynex Capital, Inc. (DX) closed at $12.18 as of 2026-09-18, trading 24.7% above its 200-week moving average of $9.76. The stock is currently moving closer to the line, down from 28.5% last week. The 14-week RSI sits at 46, indicating neutral momentum.
A big spike in selling this week — 2.0x the usual volume, and the price dropped. Sometimes this kind of heavy selling marks the end of a decline. The idea is that the last reluctant holders have finally sold, leaving fewer sellers left to push the price lower.
Over the past 1966 weeks of data, DX has crossed below its 200-week moving average 18 times. On average, these episodes lasted 27 weeks. Historically, investors who bought DX at the start of these episodes saw an average one-year return of +19.3%.
With a market cap of $3.0 billion, DX is a mid-cap stock. Return on equity stands at 18.2%, a solid level. The stock trades at 0.9x book value.
Share count has increased 225.9% over three years, indicating dilution.
Over the past 33.8 years, a hypothetical investment of $100 in DX would have grown to $123, compared to $3167 for the S&P 500. DX has returned 0.6% annualized vs 10.8% for the index, underperforming the broader market over this period.
Free cash flow has been declining at a -1.5% compound annual rate. A deteriorating cash flow trend warrants extra scrutiny — the stock may be cheap for a reason.
Business Health
Annual financials — how the underlying business has performed over the past several years.
Cash Flow Free cash flow & net income ($M)
Revenue Annual revenue ($M) — business growth proxy
Total Debt Balance sheet debt ($M)
ROIC Return on invested capital (%)
FCF Yield Free cash flow / market cap (%) — Yartseva signal
Gross Margin Pricing power & competitive moat (%)
Shares Outstanding Buybacks vs dilution (millions)
Growth of $100: DX vs S&P 500
Monthly data normalized to $100 at start. Vertical dashed lines mark 200-week MA touches.
What Happens After DX Crosses Below the Line?
Across 17 historical episodes, buying DX when it crossed below its 200-week moving average produced an average return of +29.9% after 12 months (median +23.0%), compared to +27.4% for the S&P 500 over the same periods. 94% of those episodes were profitable after one year. After 24 months, the average return was +57.1% vs +55.8% for the index.
Each line shows $100 invested at the moment DX crossed below its 200-week MA. Bold blue = stock average. Gray dashed = S&P 500 average over same periods.
Bean Score Experimental
The Bean Score measures how far a stock's free cash flow yield has deviated from its own quarterly baseline, normalized by the stock's historical behavior. Between earnings dates, FCF is constant — so the score is purely a function of stock price. The levels below show at what prices DX would reach each dislocation threshold.
Dislocation Price Levels
Prices where DX's Bean Score would hit each σ threshold. Valid until next earnings report: 2026-10-19.
| Level | σ | Price | Signal |
|---|---|---|---|
| Deep Value | +2σ | $12.35 | Unusually cheap — analysis point |
| Value | +1σ | $12.64 | Cheap vs. own history |
| Fair Value | +0σ | $12.94 | Historical mean behavior |
| Expensive | -1σ | $13.25 | Expensive vs. own history |
| Deep Expensive | -2σ | $13.58 | Unusually expensive — analysis point |
Quarterly FCF & Yield Trailing twelve-month free cash flow and yield at each quarter end
Recent Earnings
| Date | EPS Est. | EPS Actual | Surprise |
|---|---|---|---|
| 2026-07-20 | $0.34 | $0.36 | +4.5% |
| 2026-04-20 | $0.28 | $0.31 | +11.9% |
| 2026-01-26 | $0.27 | $0.22 | -17.6% |
| 2025-10-20 | $0.26 | $0.25 | -5.3% |
Signal Accuracy Collecting Data
The Bean Score system is accumulating weekly data to validate signal accuracy. After 13+ weeks of history, this section will display win rates and average returns for each σ threshold crossing — answering the question: "When this score says cheap or expensive, does the price subsequently move in the expected direction?"
the write-ups I read Simply Wall St · Visual company reports and write-ups. Free tier covers five reports a month. referral
Theoretical framework — not backtested or forward-tested. The Bean Score uses trailing twelve-month free cash flow yield as a dislocation identifier. It measures whether the market has pushed a stock's yield unusually far from its own baseline behavior. These levels are analysis points: prices at which the yield deviation becomes unusual enough to justify the work. FCF values update quarterly with earnings; between reports, all movement is price-driven.
Dislocation Scores Experimental
Each score measures deviation from DX's own historical baseline — the same idea as the Bean Score, applied to different fundamentals. Positive means cheaper or more dislocated than this stock's norm. Scores marked σ are normalized by the stock's own variability; pp values are simple deltas from its recent baseline.
Theoretical framework — not backtested. These scores describe how unusual today's readings are for this specific company. Each one is an analysis point, a reason to open the filings. Annual-statement scores (buyback, accruals, FCF vs history) rest on only ~4 yearly data points and are deltas, not sigmas.
Historical Touches
DX has crossed below its 200-week MA 18 times with an average 1-year return of +19.3% after recovery.
| Crossed Below | Recovered | Weeks | Max Depth | 1-Year Return | Return Since Touch |
|---|---|---|---|---|---|
| Jan 1989 | Nov 1990 | 95 | 65.0% | -46.1% | +725.0% |
| Nov 1994 | May 1995 | 25 | 37.2% | +37.9% | +71.4% |
| Jul 1995 | Jul 1995 | 1 | 3.2% | +55.5% | +45.9% |
| Sep 1998 | Dec 2002 | 224 | 98.0% | -60.9% | +5.9% |
| Oct 2008 | Jan 2009 | 14 | 19.3% | +41.0% | +403.8% |
| Feb 2009 | Feb 2009 | 1 | 0.0% | +42.8% | +366.3% |
| Feb 2009 | Mar 2009 | 2 | 10.0% | +56.7% | +418.1% |
| Aug 2015 | Mar 2016 | 34 | 15.9% | +31.3% | +142.1% |
| Apr 2016 | May 2016 | 1 | 1.2% | +19.5% | +116.1% |
| May 2016 | May 2016 | 1 | 1.3% | +16.2% | +116.1% |
| Aug 2019 | Oct 2019 | 12 | 9.5% | +10.4% | +85.0% |
| Mar 2020 | Jul 2020 | 18 | 39.0% | +70.9% | +123.6% |
| Sep 2022 | Jan 2023 | 16 | 17.5% | +2.9% | +54.8% |
| Feb 2023 | Jul 2023 | 21 | 16.5% | +7.9% | +53.3% |
| Aug 2023 | Aug 2023 | 2 | 4.0% | +14.0% | +54.5% |
| Sep 2023 | Dec 2023 | 12 | 22.7% | +17.4% | +50.4% |
| Apr 2024 | Apr 2024 | 3 | 2.8% | +10.3% | +47.7% |
| Jun 2024 | Jun 2024 | 2 | 1.6% | +19.6% | +45.7% |
| Average | 27 | — | +19.3% | — |
Frequently Asked Questions
Is DX below its 200-week moving average?
No. Dynex Capital, Inc. (DX) is currently 24.7% above its 200-week moving average of $9.76. It would need to fall to $9.76 to cross below the line.
What is DX's 200-week moving average price?
Dynex Capital, Inc.'s 200-week moving average is $9.76 as of 2026-09-18. This is the average weekly closing price over roughly the last 4 years, and it acts as a long-term trend line. When a stock drops below this level, it can signal that the price has fallen far enough from the long-term trend to attract value-oriented investors.
What happens when DX drops below its 200-week moving average?
DX has crossed below its 200-week moving average 18 times in our data. On average, buying at that moment produced a one-year return of +19.3%. These dips have historically been decent entry points. These episodes lasted 27 weeks on average.
Is DX a good value right now?
Here's what our data says about DX as of 2026-09-18: The stock is above its 200-week moving average, so it doesn't currently meet our primary signal. The 14-week RSI is 46. Return on equity is 18.2%. Price-to-book is 0.9x. This is not a buy or sell recommendation — always do your own research.
How does DX compare to the S&P 500?
Over the past 33.8 years, $100 invested in DX would have grown to $123, compared to $3167 for the S&P 500. That's 0.6% annualized vs 10.8% for the index. DX has underperformed the broader market over this period.
Does DX pay a dividend?
Yes. Dynex Capital, Inc. currently pays a dividend yield of 1675.00%.
Not financial advice. This is an educational tool. Past performance does not guarantee future results. Do your own research before making investment decisions.
Data as of week of 2026-09-18